FXSpotStream Adds ANZ
Posted by Colin Lambert. Last updated: October 7, 2024
ANZ has become the first Australian bank to join the FXSpotStream service, becoming the 17th liquidity provider and extending its distribution channel.
The bank joins Bank of America, Barclays, BNP Paribas, Citi, Commerzbank, Goldman Sachs, HSBC, J.P.Morgan, Morgan Stanley, MUFG, NatWest, Standard Chartered, State Street, Societe Generale, UBS and Wells Fargo. The addition comes as FXSpotStream recently reported a new record for average daily volume above $100 billion per day – it is not known if ANZ was active on the service during September to help add to the volume.
“2024 has been a tremendous year for the service, with our ADV up over 40% year to date and five ADV records already in the books,” says Jeff Ward, CEO of FXSpotStream. “Despite the growth in volumes, we have high standards in terms of client service, performance and reliability to uphold and that continues to be a strong focus for us.
“The decision to add any new LP is always one that comes with a great deal of consideration,” he continues. “For us, more does not necessarily equal better and there always needs to be a real value add for clients, either currently on the Service or prospective. We felt that ANZ fit the description perfectly on both fronts, having seen interest from our current client base as well as fitting our plans for the future here at FXSpotStream.”
Meanwhile., Luke Marriott, head of e-FICC markets at ANZ, adds, “As the first Australian bank to partner with FXSpotStream, we continue to expand our wholesale FX distribution capability to give our customers access to market leading products that support their needs. Our unique global footprint, our expertise in AUD, NZD, Asian currencies and the related cross will be complimentary to the platform and other liquidity providers.”
